Riyadh – Mubasher: Saudi Arabia and US officials signed the letters of offer and acceptance documents of Lockheed Martin’s (LMT.N) $15 billion missile defense system, the US Department of State spokesman said.
The documents, Inked on Monday, formalised terms for Saudi’s purchase of 44 Terminal High Altitude Area Defense (THAAD) launchers, missiles and related equipment, he added.
The American spokesperson further noted that the THAAD transaction had been under discussion since December 2016 and is now completed.
The deal props up “the long-term security of Saudi Arabia and the GCC in the face of the growing ballistic missile threat from the Iranian regime and Iran-backed extremist groups,” he noted.
